Datacentrex, Inc. (DTCX): auditor change — Thumzup restates FY2022 and Q1 2023 financials due to accounting errors in equity offerings

Datacentrex, Inc.

Board concluded previously issued financials should no longer be relied upon.
Error in liquidated damages accounting for equity offerings; treated as liabilities and losses.
FY2022 net loss increases from $1.22M to $1.50M; Q1 2023 net loss from $0.72M to $0.91M.
Liabilities rise: Dec 2022 from $91,359 to $374,275; Mar 2023 from $69,532 to $540,934.
No impact on net revenue, gross profit, or cash flows; company to file amended reports.

item 4.02

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

Datacentrex, Inc. reported that prior financial statements should not be relied upon.

Action: non reliance
Auditor: Haynie & Company

Exact text from the filing

ith management of the Company and the Company’s independent registered public accounting firm, Haynie & Company (“Haynie”), concluded that the Company’s previously issued audited consolidated financial statements as of and for the fiscal year ended December 31, 2022 included in the Company’s Annual Report on Form 10-K for such period and unaudited condensed consolidated interim financial statements as of and for the fiscal period ended March 31, 2023 included in the Company’s Quarterly Report on Form 10-Q for such period should no longer be relied upon. As part of preparing its condensed consolidated interim financial statements as of and for the fiscal period ended June 30, 2023, the Company identified inadvertent errors in the accounting for certain equity transactions, specifically the liquidated damages provisions contained in certain of the Company’s equity offerings. Upon further e

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Source: SEC EDGAR

accession 0001493152-23-029018

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